Terms of use

WrappedFactory is a permissionless smart contract on Solana that lets any holder of any pump.fun token create a wrap layer. A wrap layer locks a fixed quantity of a target token inside a per NFT vault and mints an NFT representing that locked balance. The vault follows the NFT through every trade. Anyone who holds the NFT can unwrap it back into the locked tokens.

wrappedbulls.com is a user interface for the protocol. The protocol itself lives on chain at the program ID listed on /security. The protocol is the source of truth. The website is one way to interact with it; anyone can interact directly via CLI or a different frontend.

We do not control:

• Locked tokens. Each wrap layer's locked tokens sit in vault PDAs whose authority is derived from the corresponding NFT mint. Only the wallet holding the NFT can authorize an unwrap. We cannot move, freeze, or recover locked tokens under any circumstance.
• NFT transfers. Once minted, an NFT is a standard SPL token; it transfers on Magic Eden, Tensor, peer to peer, anywhere.
• Token prices. Wrapped collections do not promise yield, peg, or floor price. Token prices can go to zero.
• The deployments themselves. Anyone with 1,000,000 $WBULL can deploy a wrap layer for any pump.fun token.

We do control:

• The program upgrade authority (during the soak period; see policy below). This means we can patch program code.
• The verified badge. Through the on chain set_verified instruction, we mark which deployment is the canonical wrap layer for a given token. Unverified deployments are not the same as verified ones; users should pay attention.
• The circuit breaker. We can globally pause new wraps, new deploys, and treasury claims through the set_factory_paused instruction. We cannot pause unwrap. Locked tokens are always drainable by their NFT holder regardless of pause state.
• The bull treasury claim path. Deploy fees accrue to the treasury with a 7 day per deposit lock. We can sweep expired entries; we cannot front run the 7 day lock.

• Permissionless deploys mean scam wrappers exist. Anyone can pay 1M $WBULL and deploy a wrap layer for any token, including impersonations, low effort copies, or outright scams. The verified badge is the canonical signal; if you are wrapping into an unverified layer, you are choosing to.
• Wrap layer immutability. Once deployed, a wrap layer's max supply, tokens per wrap, and art source URI are written to chain and cannot be changed. The deployer is locked into their original choices. (Renderer URL edits are a planned V1.1 feature, gated to deployer plus factory authority co signature.)
• No fund recovery. Lost private keys, sent NFTs to wrong addresses, transactions signed in error, mistyped pubkeys: there is no recovery path. We do not have the keys to your wallet.
• Smart contract risk. The program has been internally audited (see /security for audit invariants and the audit document). It has NOT received an external third party security audit. Use at your own risk.
• Token program risk. Some pump.fun tokens use the Token-2022 program with extensions. Some extensions (transfer fee, transfer hook, confidential transfer) can change behavior in ways the wrap layer does not anticipate. The protocol supports the basic transfer interface for both classic SPL and Token-2022.
• Marketplace and indexer risk. Marketplaces (Magic Eden, Tensor) and indexers are third party services we do not control. Their UIs may misrender, cache, or fail to load any deployment's NFTs.
• Pump.fun dependency. The Factory wraps pump.fun tokens. Changes to pump.fun (program ID, mint behavior, migration to a new format) may affect existing wrap layers in ways we cannot patch retroactively.
• Jurisdictional risk. Some jurisdictions prohibit interacting with permissionless protocols, with NFT collections, or with assets whose underlying economics rest on a memecoin layer. You are solely responsible for your own compliance with the laws applicable to you.

The program is currently deployed with a single hot keypair as upgrade authority. This keypair is held by the WrappedBulls operator. During the soak period (30 to 60 days after mainnet launch) we retain upgrade authority so we can patch logic bugs that surface in real conditions. At the end of the soak period, if no critical bugs surface, we will either transfer authority to a hardware wallet, or revoke it entirely so the program becomes permanently immutable.

We did not adopt a multisig for the launch authority. The protocol is operated by one person; introducing a multisig under that posture adds complexity without adding real second signer review. Anyone interacting with the protocol during the soak period is trusting the operator not to push a malicious upgrade. The on chain bytecode hash before and after every upgrade is publicly verifiable; see /security for the verifiable build process.

The program has a global pause flag, flipped via the set_factory_paused instruction. When paused, the program rejects new wraps, new deploy_collections, and treasury claims. Unwrap is never guarded. Users can always withdraw their locked tokens regardless of pause state; pausing unwrap would constitute fund capture, which the circuit breaker exists to prevent.

We will pause the protocol if we observe evidence of an active exploit, a Metaplex CPI regression, an unbounded treasury growth attack, or any other failure mode listed in our pre mortem document. Pause is a triage tool, not a censorship tool; we do not pause based on the content of any individual deployment.

We do not collect personal data, run accounts, set cookies, run analytics, or require KYC. The website is a stateless interface to a public blockchain. Your wallet address is visible to the chain (and therefore the website while you have a session open). We do not log it, store it, or share it.

Nothing on wrappedbulls.com or in any document we publish is investment advice, financial advice, legal advice, or a recommendation to interact with any specific deployment. The protocol is infrastructure; how you use it is your decision.

We may update this document as the protocol evolves. Material changes (new ix shipping, soak period ending, etc.) will be announced on @wrappedbulls before they take effect on chain.

For security disclosures, see /security. For everything else, @wrappedbulls on X.